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Jan 24, 2013
01/13
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the debt ceiling. the g.o.p. is calling to balance the federal budget in just ten years. that's almost twice as fast as previous efforts by republicans. if that is the case, medicare and other safety net programs wills take a huge hit. yesterday's extension of the debt ceiling now goes to the senate which will likely pass it as well. we'll be right back. (vo) current's award winning original series is back with an all new episode straight from the headlines. (vo) in the minefield of the nation's gun control debate, this could be the most polarizing issue. >> anybody can claim stand your ground and they could get away with murder. >> announcer: broadcasting across the nation on your radio and current tv, this is the "bill press show." >> bill: yes indeed. equality moves to the front lines as the pentagon today lifts the ban on women in combat. big move. a great move. hello, everybody. happy, happy thursday and welcome, welcome to the "full court press." coming to you live all the way across this great l
the debt ceiling. the g.o.p. is calling to balance the federal budget in just ten years. that's almost twice as fast as previous efforts by republicans. if that is the case, medicare and other safety net programs wills take a huge hit. yesterday's extension of the debt ceiling now goes to the senate which will likely pass it as well. we'll be right back. (vo) current's award winning original series is back with an all new episode straight from the headlines. (vo) in the minefield of the...
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Jan 24, 2013
01/13
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CURRENT
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starting with the debt ceiling. 111 democrats voted against raising the debt ceiling. was this all about the no budget no pay provision are the democrats trying to stick it to the g.o.p. >> i think the latter and i think the more constitutionalists among them assuming that they are there that the amendment mattered more to them. but emotionally they probably wanted to make boehner pass this bill with his republicans. you know, in a way don't blame them for that. it's a harmless game. there are harmful games and harmless games. that was a relatively harmless one. obama also supported the passage of this, john, i think that if it had been in danger i think enough democrats would have switched over and voted yes. i think they were just trying to make a point. >> john: that makes me feel better. but let me ask you something the number one criticism from my republican friends has been so budget has been passed. why can't you democrats pass a budget how shameful. how should democrats respond to this? >> well, it is true that they haven't passed a budget. you can say that mat
starting with the debt ceiling. 111 democrats voted against raising the debt ceiling. was this all about the no budget no pay provision are the democrats trying to stick it to the g.o.p. >> i think the latter and i think the more constitutionalists among them assuming that they are there that the amendment mattered more to them. but emotionally they probably wanted to make boehner pass this bill with his republicans. you know, in a way don't blame them for that. it's a harmless game....
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Jan 24, 2013
01/13
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for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a bipartisan effort. look, if you look at the goal, we've got to get our fiscal house in order, we've got to balance the budget, and in order to do that, the senate actually has to produce a budget, which they haven't done in nearly four years. the house has had budgets for each of the last two years that actually get to balance. so what we did, in this bill, is to say to the senate, look, you've got to do a budget. families do budgets, businesses do budgets, employers do budgets. the senate has not done a budget in nearly four years, so this is the challenge for th
for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a...
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Jan 24, 2013
01/13
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FBC
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not going to keep raising the debt ceiling at indicating that there will be steep cuts said. what is the chance of that? >> well, i hope the is right, but i fear he is wrong. i think that the current mood of the country is more sympathetic to the president and the democrats' perspective, which is that we don't really have a serious spending problem. we have a minor spending problem we can do with a little bit. we can raise taxes on high-income households a little bit more and we don't have to make fundamental cuts in entitlements. i think that's wrong. i think we have to make substantial cuts in entitlements. we should make substantial cuts in many other components of expenditure as well, defense and nondefense in that trying to address our long term fiscal situation with higher taxes is is going to destroy the economy. gerri: democrats are beating the drum on this already. anyone you listen to from that side of the house is really talking about higher taxes. republicans and conservatives in general like to talk about the power of economic growth. could robust growth that a l
not going to keep raising the debt ceiling at indicating that there will be steep cuts said. what is the chance of that? >> well, i hope the is right, but i fear he is wrong. i think that the current mood of the country is more sympathetic to the president and the democrats' perspective, which is that we don't really have a serious spending problem. we have a minor spending problem we can do with a little bit. we can raise taxes on high-income households a little bit more and we don't...
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Jan 24, 2013
01/13
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KQED
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remember how they vowed they would only raise the debt ceiling by a dollar for every dollar cut in spending. now they said never mind. we'll push that down the road. the big fight will be on the sweeping spending cuts that go into effect march 1 and on the government funding that runs out on march 27. march is going to be the month to watch, and it's a month that could end in a government shutdown. >> ifill: is it the kind of fight the republicans want to have to redefine themselveses? >> i think they do. gwen, i think you have to know when to hold them and know when to fold them. yes, the republicans folded on this wise wisely. finally, i think they got some smart on this. you have to pick your fights. they need a breather now. they've been on the defense for a year on tax cuts for millionaires, on toughness, shutting down the government, they're not going to compromise. they need to recalbright here, a reset button needs to be pushed and it seems like in every aspect of government. and fight on future spending, not on obligations already incur. >> ifill: in the inaugural address this week
remember how they vowed they would only raise the debt ceiling by a dollar for every dollar cut in spending. now they said never mind. we'll push that down the road. the big fight will be on the sweeping spending cuts that go into effect march 1 and on the government funding that runs out on march 27. march is going to be the month to watch, and it's a month that could end in a government shutdown. >> ifill: is it the kind of fight the republicans want to have to redefine themselveses?...
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Jan 31, 2013
01/13
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rich: the senate has voted to raise the debt ceiling through may 18. this also has a provision that says in the senate doesn't pass a budget, the senators don't get paid, house lawmakers don't get paid after april 15. they don't get paid until the end of congress and are made whole at the end of the congress in 2014. the bill goes to the president's desk raising the debt ceiling so treasury can extend that sometime to july or august. david: a quick question in terms of defense, we will be talking about how defense cutbacks are hurting individual jobs in individual sectors and does this affect defense spending directly? >> this moves the debt ceiling fight the back. now march 1, automatic spending cuts and defense and other programs begin to hit and government spending on march 27. next up, defense spending will be a topic of conversation in d.c. and congress. david: rich edson, thank you from d.c. liz: the chief strategist in the pits of the cme. right now i would love to sit here and talk about the trading action for today. the last day of january, it
rich: the senate has voted to raise the debt ceiling through may 18. this also has a provision that says in the senate doesn't pass a budget, the senators don't get paid, house lawmakers don't get paid after april 15. they don't get paid until the end of congress and are made whole at the end of the congress in 2014. the bill goes to the president's desk raising the debt ceiling so treasury can extend that sometime to july or august. david: a quick question in terms of defense, we will be...
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Jan 24, 2013
01/13
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CNN
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the debt ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this year. >> reporter: now, we have been asking our guests here for the riskometer. on this side we have is the u.s. a bigger threat to global growth in 2013. on this side the e.u. lutnic thinks the u.s. is by far the bigger. as you look overall most people still seem to believe europe is the biggest threat in 2013. by the way, speet tweet me wher think the biggest threat is. >> very official looking. did you make that yourself? >> don't you mock it? it works and it is doing a good job. >> we will have people tweet you and see what they feel about all of this but a lot of power players weighing in on whether or no
the debt ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this...
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Jan 24, 2013
01/13
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CURRENT
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going to raise it without equal pay cut, and basically he went back on that, and as you said, all he did was kick it down the road for three months. what was the point for him? >> the point was to look like they had some kind of a win because they knew they were in trouble on the debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see. they are going to try to balance the budget in ten years, which you cannot do without slashing medicare and medicaid, and social security. so the american people will get, i think, a very good look at the way republicans want to balance the budget and do deficit reduction and the way democrats do. we actually went through this with paul ryan's budget which was so egregious the leader of his party had to back away from it in the campaign. >> stephanie: yeah, it was seen as sort of a slap at the senate but they are calling it the no budget, no pay idea. it has been regarded by a lot of people as a gim
going to raise it without equal pay cut, and basically he went back on that, and as you said, all he did was kick it down the road for three months. what was the point for him? >> the point was to look like they had some kind of a win because they knew they were in trouble on the debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see....
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Jan 24, 2013
01/13
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and house nearly three months to raise the debt ceiling. >> look, i understand why they want to move the initiative forward and i think there is some strategicty to the way they're doing it it and i believe the second part the of it it, congress shouldn't get paid unless a budget is passed. no one wants to miss a paycheck certainly, but i think it's a very valid point and i think that it's not unfair to say to the people if you're not going to do your job, you shouldn't get paid. >> greta: and we keep getting these, like goal posts and mile posts and three more months. >> absolutely. >> greta: six more months and another excuse-- >> in fairness, i think it's the house. if they believed they could pass a bill out of house that not only dealt with the debt limit, but with our debt problem and passed out of the senate and signed by the president they would do it in a heartbeat. that's not what they're facing. they want facing a president that wants unconditional limits and the senate hasn't passed a budget in days. i think they're trying to make the best of a bad situation. absolutely w
and house nearly three months to raise the debt ceiling. >> look, i understand why they want to move the initiative forward and i think there is some strategicty to the way they're doing it it and i believe the second part the of it it, congress shouldn't get paid unless a budget is passed. no one wants to miss a paycheck certainly, but i think it's a very valid point and i think that it's not unfair to say to the people if you're not going to do your job, you shouldn't get paid. >>...
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Feb 1, 2013
02/13
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. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time in nation's history. they department want to do that again. like i said, i didn't want to vote for a bigger national debt either. that doesn't fit with their philosophy. they came up with the strategy of saying we're going us is fend. and in the meantime, they want the senate to pass a budget for 2014 and the law salses that -- says that if either chamber fails to adopt a budget by april 15, the paychecks will be docked. the idea of the thing is to postpone the sort of economy raddling default situation until they can prosecute the continuing fight over taxes and spending to a point where, you know,
. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time...
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Jan 31, 2013
01/13
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washington appears poised to resolve the debt ceiling crisis at least temporarily. a very important caveat here. the senate is expected to pass the measure to raise the limit on our federal borrowing but only raise it until may. chief political correspondent carl cameron is live from washington. so carl, may is my birthday but beyond that i have no reason why may is the date. what is the fine print here in all of this? >> reporter: the title of it is called the no budget, no pay bill. that is sort of contingent string attached to this. over all extends enforcement the of current debt ceiling through mid-may. but at that point it retroactively goes up and the bipartisan policy center says the increase will be $450 billion. call it about half a trillion so the new total will end up being around 17 trillion in federal debt, as of mid-may. that string attached to the no budget-no pay provision. house republicans who have passed budgets during the first obama term inserted this into the legislation, essentially to pressure senate democrats to pass budgets. they have not
washington appears poised to resolve the debt ceiling crisis at least temporarily. a very important caveat here. the senate is expected to pass the measure to raise the limit on our federal borrowing but only raise it until may. chief political correspondent carl cameron is live from washington. so carl, may is my birthday but beyond that i have no reason why may is the date. what is the fine print here in all of this? >> reporter: the title of it is called the no budget, no pay bill....